User Account

All Pages

Thenominal interest rate-monthly loan payment

Assignment Help Financial Accounting
Reference no: EM131203384

You want to buy a car, and a local bank will lend you 20,000,The loan will be fully amortized over 5 years(60 Months) and thenominal interest rate will be 12% with interest paid monthly. What will be the monthly loan payment? What will be the loan's EAR?Answer in back of book, I didn't get it right, need to know what Imissed. Also, If you deposit money today in an account that pays 6.5% annual interest, how long will it take to double your money?

Reference no: EM131203384

Questions Cloud

Successful company in commercial and residential painting : Progressive Painting Company (PPC) is a successful company in commercial and residential painting. PPC has a variety of jobs: new construction, repair and repainting existing structures and restoration of very old buildings and homes. The company is ..
Determine the depreciation rates per mile : Prior to adjustment at the end of the year, the balance in Trucks is $297,013 and the balance in Accumulated Depreciation—Trucks is $102,180. Details of the subsidiary ledger are as follows: Estimated Accumulated Depreciation at Miles Operated Truck ..
Predetermined overhead rate can affect profits and losses : Explain how using a predetermined overhead rate can affect profits and losses? That is, why might the predetermined overhead be inaccurate when compared to the actual results of the activities by the predetermined overhead rate?
Prepare journal entries for the transactions : Prepare journal entries for the following transactions:
Thenominal interest rate-monthly loan payment : You want to buy a car, and a local bank will lend you 20,000,The loan will be fully amortized over 5 years(60 Months) and thenominal interest rate will be 12% with interest paid monthly. What will be the monthly loan payment? What will be the loan's ..
Calculate the ending inventory and cost of goods sold : Surplus, Inc. uses a periodic inventory system and the had the following activity for 2007: Purchases Sales Balance January 1, 2007 110 units at $50 or $5,500 2/10/07 purchase 80 units at $60 or $4,800 4/14/07 sale 60 units 5/9/07 purchase 120 units ..
Operating activities section of the statement of cash flows : Prepare the operating activities section of the Statement of Cash Flows for Learning, Inc. for the year ended December 31, 2007.
Prepare a combined single-step income statement : Jackson Company had the following income statement amounts for the year ended December 31, 2007: Sales $4,624,274. Cash dividends declared $ 58,986. Prepare a combined single-step income statement and retained earnings for the year ended December 31,..
Prepare the annual adjusting entries for the transactions : Prepare the annual adjusting entries for the following transactions:

Reviews

Write a Review

Financial Accounting Questions & Answers

  Actual quantity sold - estimated quantity sold

If the current product price is P=$6 and the quantity sold per time period is Q=10, then the error (e) for the current time period is equal to (actual quantity sold - estimated quantity sold)

  Determine the unadjusted rate of return

Income before taxes earned by the ice cream parlor is taxed at an effective rate of 20 percent. Determine the unadjusted rate of return (use average investment) for each alternative.

  Financial statements are not precise

Does the concept of materiality mean that financial statements are not precise

  1 if you assume that the risk world in which your company

1 if you assume that the risk world in which your company operates is ergodic when in fact it is non-ergodic what

  Determine what the operating income should have been

Determine what the operating income should have been for the actual units sold.

  Company has the opportunity

A company has the opportunity to sell 1,000 extra units of product to a new customer outside the US. The price at which this sale can be made is $95 per unit. The normal price is $125. The standard cost is $75 of variable costs plus $25 of fixed cost..

  Martins report

The Martins file a joint return. Their AGI is $367,050. The Martins report the following amounts on Schedule A: home mortgage interest, $12,920; real estate taxes, $5,100; and $7,000 of cash gifts to qualified charities

  Insert the missing figures

Insert the missing figures in the following examples.

  Enter the trial balance on a worksheet

Enter the trial balance on a worksheet and complete the worksheet.

  Preparation of closing entries and statement of retained

preparation of closing entries and statement of retained earnings.the adjusted trial balance for china tea company at

  Prepare the stockholders equity section of the balance sheet

On January 1, 2012, Saa Corporation had the following stockholders’ equity accounts. Common Stock (no par value, 88,000 shares issued and outstanding) $1,356,200 Retained Earnings 456,000 during the year, the following transactions occurred. Feb.

  Determine the best way for the company

Determine the best way for the company to obtain the funds needed which might be a single method or combination of methods.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd